Illinois Municipal Retirement Fund Reduces Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• Illinois Municipal Retirement Fund cut its stake in Expeditors International of Washington by 7.7% in the first quarter, selling 10,150 shares and ending with 122,201 shares worth about $17.5 million.
• Wall Street sentiment remains mixed, with analysts issuing a consensus "Hold" rating and an average price target of $148.56, though several firms recently raised their targets or upgraded the stock.
• Expeditors reported stronger-than-expected quarterly results, posting $1.71 EPS versus $1.33 expected, while revenue rose 4.4% year over year and the company maintained a dividend payout ratio of 26.21%.

Illinois Municipal Retirement Fund lessened its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,201 shares of the transportation company's stock after selling 10,150 shares during the period. Illinois Municipal Retirement Fund owned 0.09% of Expeditors International of Washington worth $17,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC grew its position in Expeditors International of Washington by 40.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 72,528 shares of the transportation company's stock worth $10,807,000 after acquiring an additional 20,755 shares during the period. Brendel Financial Advisors LLC acquired a new position in Expeditors International of Washington in the 4th quarter valued at about $4,213,000. Arjuna Capital grew its holdings in shares of Expeditors International of Washington by 37.0% in the fourth quarter. Arjuna Capital now owns 23,940 shares of the transportation company's stock valued at $3,567,000 after purchasing an additional 6,471 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Expeditors International of Washington by 5.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 207,392 shares of the transportation company's stock worth $32,703,000 after acquiring an additional 11,061 shares in the last quarter. Finally, Swedbank AB grew its stake in Expeditors International of Washington by 153.5% during the 4th quarter. Swedbank AB now owns 29,678 shares of the transportation company's stock worth $4,422,000 after purchasing an additional 17,969 shares in the last quarter. 94.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EXPD has been the subject of several analyst reports. Susquehanna boosted their price target on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Truist Financial raised their price target on Expeditors International of Washington from $145.00 to $175.00 and gave the stock a "hold" rating in a research note on Wednesday. Zacks Research raised Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of Expeditors International of Washington from $135.00 to $139.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 6th. Finally, Stephens upgraded Expeditors International of Washington to a "strong-buy" rating in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $148.56.

Expeditors International of Washington Price Performance

NASDAQ:EXPD opened at $177.63 on Thursday. The firm has a market cap of $23.23 billion, a PE ratio of 31.05, a P/E/G ratio of 5.00 and a beta of 1.04. The firm has a 50 day simple moving average of $162.15 and a 200-day simple moving average of $154.70. Expeditors International of Washington, Inc. has a 1-year low of $110.48 and a 1-year high of $179.45.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.38. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 EPS. As a group, sell-side analysts expect that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Expeditors International of Washington Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.81 per share. This represents a dividend yield of 101.0%. The ex-dividend date of this dividend was Monday, June 1st. Expeditors International of Washington's dividend payout ratio is currently 26.21%.

Expeditors International of Washington Company Profile

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company's core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.

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